Gopax Halts Withdrawals After Hacking Threat Email, Moves Assets to Cold Wallets

Breaking

Summary

• GOPAX said it restricted deposits and withdrawals and trading as a preemptive response after receiving an email threatening a hack.
• GOPAX said no actual hacking damage or attempt has been identified, and that the measure was preventive and aimed at protecting customer assets.
• GOPAX said it implemented stringent steps to strengthen security in line with recommendations from financial authorities, while withdrawals remain available through its customer support center.

South Korean cryptocurrency exchange GOPAX has restricted deposits, withdrawals and trading after receiving an email threatening a hack. No actual damage or hacking attempt has been confirmed so far.

Digital Asset reported on November 6 that GOPAX imposed the curbs as a preventive measure after the threatening email was received internally.

GOPAX said the move was not prompted by any actual hacking incident, but was a precaution to protect customer assets. The exchange added that no hacking attempt has been identified so far.

Earlier, GOPAX notified users that it was taking preemptive steps to protect customer assets and bolster security in line with recommendations from financial authorities.

A GOPAX official said the company opted for relatively stringent measures because it determined that security should take priority over business operations.

Withdrawals have not been completely blocked. Users can still withdraw funds by submitting a separate request through the customer support center, GOPAX said.

Minseung Kang